Lead weakens by 0.48% on sluggish demand

Tracking weakness in base metals amid sluggish demand from battery-makers, lead futures prices fell by 0.48% to Rs 104.05 per kg today.

At the Multi Commodity Exchange, the February contract for lead shed 50 paise, or 0.48%, to Rs 104.05 per kg, with a business turnover of 821 lots.

The March contract fell by 50 paise, or 0.47%, to Rs 105.50 per kg, with a turnover of 98 lots.

Analysts said apart from slackened demand from battery-makers at the spot markets, weakness in the entire base metals pack at the London Metal Exchange (LME) after reports signaled slowing global economic growth, eroding demand prospects for industrial metals, weighed on lead futures prices here.

At the LME, lead lost 0.9% to $2,130 per tonne.